Financial Summary (All financials)
In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
Revenues | 270.8 | 157.2 | 17.8 | 48.8 | 20.7 | 25.2 | 26.4 | 48.3 |
Revenue growth | 72.3% | 782.4% | -63.5% | 136.5% | -18.0% | -4.4% | -45.4% | 254.6% |
Cost of goods sold | 6.4 | 7.2 | 1.6 | 3.7 | 0.5 | 1.1 | 2.3 | 1.4 |
Gross profit | 264.4 | 149.9 | 16.3 | 45.1 | 20.2 | 24.0 | 24.1 | 46.9 |
Gross margin | 97.6% | 95.4% | 91.3% | 92.4% | 97.7% | 95.5% | 91.3% | 97.2% |
Selling, general and administrative | 159.4 | 118.8 | 67.9 | 37.1 | 29.5 | 13.9 | 11.3 | 13.0 |
Research and development | 253.3 | 208.8 | 123.0 | 107.1 | 84.9 | 67.0 | 61.0 | 72.8 |
EBIT | -148.4 | -177.7 | -174.8 | -99.5 | -94.2 | -57.4 | -48.6 | -39.4 |
EBIT margin | -54.8% | -113.1% | -981.1% | -203.7% | -456.2% | -227.9% | -184.4% | -81.7% |
Pre-tax income | -244.4 | -181.8 | -182.8 | -108.9 | -101.3 | -65.8 | -55.1 | -43.0 |
Income taxes | 2.7 | 2.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Tax rate | | | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Net income | -247.1 | -184.1 | -182.8 | -108.9 | -101.3 | -65.8 | -55.1 | -43.0 |
Net margin | -91.2% | -117.1% | -1026.4% | -223.0% | -490.3% | -261.2% | -209.3% | -89.1% |
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Diluted EPS | ($1.33) | ($1.03) | ($1.09) | ($942.02) | ($0.98) | ($0.78) | ($0.75) | ($0.59) |
Shares outstanding (diluted) | 185.9 | 179.1 | 167.3 | 0.1 | 103.2 | 84.5 | 73.7 | 72.9 |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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